PE firm acquires WoodRidge Behavioral Care

Ridgemont Equity Partners has completed its first platform investment with the acquisition of WoodRidge Behavioral Care. Financial terms of the transaction were not disclosed.

The deal includes five psychiatric residential treatment facilities and three acute hospital programs serving adolescent and geriatric patients with psychiatric, behavioral or emotional disorders from locations in Tennessee, Arkansas and Missouri. The organization was founded in 1983 and offers a full continuum of care as well as gender-specific programming.

In May, WoodRidge acquired a 28-bed psychiatric residential treatment facility, formerly operated by Ozark Guidance Center, and renamed it WoodRidge of the Ozarks.

Ridgemont Equity Partners is a Charlotte-based middle market buyout and growth equity investor, and Perimeter Healthcare is the behavioral healthcare business holding company, led by Rod Laughlin, president and CEO.

Financing was provided by BMO Sponsor Finance and Pinnacle Bank. McGuireWoods LLP served as legal counsel to Ridgemont. Harpeth Capital and Bone McAllester Norton PLLC served as financial advisor and legal counsel to WoodRidge, respectively.